Communication Services Correlations

Etfs . USA . 
Etf . Communication Services Select
XLC Etf  USD 101.69  1.53  1.48%   
The current 90-days correlation between Communication Services and The Real Estate is 0.08 (i.e., Significant diversification). The correlation of Communication Services is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Communication Services Correlation With Market

Average diversification

The correlation between Communication Services Select and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Communication Services Select and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Communication Services Select. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Communication Etf

  0.71VOX Vanguard CommunicationPairCorr
  0.71FCOM Fidelity MSCI CommunPairCorr
  0.72IYZ IShares Telecommunicatio Sell-off TrendPairCorr
  0.72ESPO VanEck Video GamingPairCorr
  0.75IXP iShares Global CommPairCorr
  0.71HERO Global X VideoPairCorr
  0.76SOCL Global X SocialPairCorr
  0.66GAMR Amplify ETF TrustPairCorr
  0.7DBEF Xtrackers MSCI EAFEPairCorr
  0.73AIQ Global X ArtificialPairCorr
  0.75CQQQ Invesco China TechnologyPairCorr
  0.74GE GE AerospacePairCorr
  0.74JNJ Johnson JohnsonPairCorr
  0.65WMT WalmartPairCorr
  0.82T ATT Inc Aggressive PushPairCorr
  0.67KO Coca Cola Aggressive PushPairCorr
  0.76IBM International BusinessPairCorr

Moving against Communication Etf

  0.44YCS ProShares UltraShort YenPairCorr
  0.34USD ProShares Ultra SemiPairCorr
  0.72MRK Merck Company Aggressive PushPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
XLB
+ 0.93
XLRE
XLI
+ 0.93
XLB
XLI
+ 0.82
XLRE
XLP
+ 0.82
XLRE
XLP
+ 0.65
XLB
XLP
+ 0.47
XLI
  
High negative correlations   
XLY
- 0.34
XLRE
XLB
- 0.33
XLY
XLI
- 0.2
XLY
XLP
- 0.13
XLY

Communication Services Constituents Risk-Adjusted Indicators

There is a big difference between Communication Etf performing well and Communication Services ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Communication Services' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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